This invention relates generally to automated banking systems, and more particularly, it relates to a system of cashing checks, which system utilizes a customer-operated, automated teller machine (ATM) in cooperation with equipment at a teller station where a human teller also participates in the evaluation of the customer attempting to cash a check and the check itself.
There have been extended efforts in the last decade, for example, to automate banking operations. The ATM mentioned is a prime example of the results of these efforts. The ATM performs the functions of dispensing cash, receiving deposits, transferring funds from savings to checking accounts, for example. One of the functions which ATMs do not generally perform is that of cashing checks.
In general, about 35% of a human teller's transactions at a typical bank amount to cashing checks. A typical ATM which is capable of performing the various functions mentioned, can perform about 63% of the usual functions performed by a human teller; this does not include the cashing of checks.